179-18 - Monterey-Tippecanoe Township Public Library Appropriation Resolution
EXHIBIT A
APPROPRIATION RESOLUTION
WHEREAS, Monterey-Tippecanoe Township Public Library (the “Library”) is a library organized and existing under the provisions IC § 36-12-2; and
WHEREAS, the Board of Trustees (the “Board”) of the Library finds that the present facilities of the Library are not adequate to provide for the proper Library services for its patrons; and
WHEREAS, the Board has determined to issue bonds of the Library in an amount not exceeding Four Hundred Ninety-Five Thousand Dollars ($495,000) for the purpose of procuring funds to be applied on the renovation of and improvements to Monterey-Tippecanoe Township Public Library, including site improvements and a water well (the “Project”); and
WHEREAS, the estimated cost of the Project at the present time is in the approximate amount of Four Hundred Ninety-Five Thousand Dollars ($495,000), and the Board finds that no provision has been made on account thereof in the existing budget; that a need exists for the making of an additional appropriation for such purpose; now, therefore,
BE IT RESOLVED by the Board of the Library that an appropriation of the proceeds of the General Obligation Bonds of 2018 in the amount of Four Hundred Ninety-Five Thousand Dollars ($495,000) be and the same is hereby made to be applied on the cost of the Project, which appropriation includes the incidental expenses necessary to be incurred in connection with the Project and the issuance of bonds on account thereof; that the appropriation shall be in addition to all appropriations provided for in the existing budget, and shall continue in effect until the completion of the Project.
Passed and Adopted this 9th day of October, 2018.
Melvin R. Brown
President, Board of Trustees
ATTEST:
Christine Sellers
Secretary, Board of Trustees
179-18 G 10/17